Investment Fund Manager

About CADO Investment Fund Management Inc.

CADO
Investment Fund Management Inc. ("CIFM") was incorporated under the
Canada Business Corporations Act on September 14, 2009 and is a
wholly-owned subsidiary of CADO Bancorp Ltd. (“CADO”), a British
Columbia based company that specializes in investment products focused
on the Canadian natural resource sector.

In reliance on
its registration as an investment fund manager in the province of BC,
CIFM currently provides management and administrative services to funds
established only by CADO.

CIFM currently acts or previously acted as the manager of the following Maple Leaf entities (collectively, the "Funds"):

Mutual Funds

Short Duration Flow-Through Funds

ACTIVE FUNDS

Maple Leaf Resource Class

Maple Leaf Income Class

Maple Leaf Short Duration 2017 Flow-Through LP - National

Maple Leaf Short Duration 2017 Flow-Through LP - Quebec

ROLLED & DISSOLVED FUNDS

Maple Leaf Short Duration 2016-III Flow-Through LP - National

Maple Leaf Short Duration 2016-III Flow-Through LP - Quebec

Maple Leaf Short Duration 2016-II Flow-Through LP - National

Maple Leaf Short Duration 2016-II Flow-Through LP - Quebec

Maple Leaf Short Duration 2016 Energy Flow-Through LP - Quebec

Maple Leaf Short Duration 2016 Flow-Through LP - National

Maple Leaf Short Duration 2016 Flow-Through LP - Quebec

Maple Leaf Short Duration 2015-II Flow-Through LP - Quebec

Maple Leaf Short Duration 2015-II Flow-Through LP - National

Maple Leaf Short Duration 2015-III Flow-Through LP - Quebec

Maple Leaf Short Duration 2015 Flow-Through LP - National

Maple Leaf Short Duration 2015 Flow-Through LP - Quebec

Maple Leaf 2014-II Flow-Through LP - Quebec

Maple Leaf Short Duration 2014-II Flow-Through LP - National

Maple Leaf Short Duration 2014-II Flow-Through LP - Quebec

Maple Leaf Short Duration 2014 Flow-Through LP - National

Maple Leaf Short Duration 2014 Flow-Through LP - Quebec

Maple Leaf Short Duration 2013-II Flow-Through LP - National

Maple Leaf Short Duration 2013-II Flow-Through LP - Quebec

Maple Leaf Short Duration 2013 Flow-Through LP - National

Maple Leaf Short Duration 2013 Flow-Through LP - Quebec

Maple Leaf Short Duration 2012-II Flow-Through LP - National

Maple Leaf Short Duration 2012 Flow-Through LP - National

Maple Leaf Short Duration 2012 Flow-Through LP - Quebec

Maple Leaf Short Duration 2011-II Flow-Through LP - National

Maple Leaf Short Duration 2011-II Flow-Through LP - Quebec

Maple Leaf Short Duration 2011 Flow-Through LP

Maple Leaf Short Duration 2010 Flow-Through LP

Securities of the Funds are sold to
investors through registered dealers. CIFM does not sell securities of
the Funds directly to investors.

Corporate Mission

CIFM's
corporate mission is to grow its business by being a comprehensive and
diligent investment fund manager, conducting due diligence and engaging
in the best practices in all areas of its operations including
compliance, reporting, business risk evaluation, operational compliance
and controls. CIFM strives to deliver the finest quality service in the
industry with the highest degree of integrity.

CIFM is
dedicated to maintaining a proactive role in its provision of management
and administrative services to the Funds and to ensure every client is
provided with reliable, legally compliant services with uncompromising
integrity, quality and value.

Executive Management & Board of Directors

The Executive Management team and/or Board of Directors of CIFM are comprised of a group of experienced
professionals with
proven and established track records of success in the Canadian
financial services and the energy investment management business.

Commissions, trailing commissions, management fees and expenses all may be associated
with mutual funds, alternative investments and structured product investments. It
is important to read the prospectus, simplified prospectus, offering memorandum
or information statement (as applicable) before considering any investment. Mutual
funds, alternative investments and structured products are not guaranteed, their
values change frequently and past performance may not be repeated.